HomeShop 18 Raises $14 million from GS Shopping

HomeShop18, the online shopping and tele-shopping portal from Network18 stable has raised a follow-on round funding of USD 14 million from existing investors GS Home Shopping (fund managed by OCP Asia, their prior investors) and their parent company Network 18. GS will invest USD 11 million, While Network18 will put the remaining amount. [Source]

This is Homeshop18’s fourth round of funding – They had previously raised USD 30 million in April this year from Hedge Fund OCP Asia. Prior to that in 2008, Homeshop18 had raised USD 16 million from SAIF Partners and an additional USD 5 million from Capital18. In 2009, GS Shopping, invested USD 18.5 million for a 15% stake in the company.

With the current raise, Homeshop18 has raised a total of USD 64.5 million in 4 rounds. As per the reports, the current funding values HomeShop18 at USD 360 million.

Sundeep Malhotra, CEO of HomeShop18 said in regards to funding, “This round marks an inflexion point for the business as the company rapidly moves towards profitability while continuing to scale up revenues. It is gratifying to see the vote of confidence in our business model from GS and the continued support of OCP and our Promoter, Network18.”

Intel Capital has announced that it has made investments in 16 companies spread across 9 countries to the tune of USD 65 million. Among the 16 companies are 2 Indian companies Perpetuuiti and Savaari.

Announced at the 14th annual Intel Capital Global Summit held in San Diego, the new investments are part of Intel Capital’s mission of cultivating global innovation by providing entrepreneurs with the resources necessary to scale from startup to global corporation level.